to a staggering $12 trillion. and it could double by the year 2019. president obama warns if the spending continues, the economy is in for dire consequences. >> i think it is important though to recognize that if we keep on adding to the debt. even in the midst of this recovery, that at some point, people could lose confidence in the u.s. economy in a way that could lead to a double dip recession. >> china of course, by far, is the largest holder of american debt. if china and the rest wanted their money to be paid back tomorrow. you better be sitting down for this. each and every american would have to pay $40,000 apiece. >> republicans waste for time ripping apart the health care reform plan. >> it is still more premiums still higher taxes, and it is still medicare cuts. >> senate democrats say the $848 billion bill will extend coverage to 94 percent of eligible americans. the bill includes the public option and allows states to opt out. g.o.p. leaders say the taxes in the bill begin immediately after it is passed but the benefits don't. >> the benefits don't start kicking in until 2014
